Investment Summary

Penfund Invests In Mevotech

On April 21, 2014, mezzanine finance firm Penfund invested in automotive company Mevotech

Investment Highlights
  • This is Penfund’s 4th transaction in the Automotive sector.
  • This is Penfund’s 11th transaction in Canada.
  • This is Penfund’s 8th transaction in Ontario.

Investment Summary
Date 2014-04-21
Target Mevotech
Sector Automotive
Investor(s) Penfund
Deal Type Growth Capital
Advisor(s) Angle Advisors LLC (Financial)

Target

Mevotech

Toronto, Ontario, Canada
Mevotech is a provider of steering, suspension, and driveline replacement components for the automotive aftermarket. Mevotech was founded in 1982 and is based in Toronto, Ontario.

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Investor(S) 1

Investor

Penfund

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1979
PE ASSETS 2.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Penfund is a private investment firm that provides equity, junior capital, and alternative financing to Canadian-based middle-market companies with EBITDA of at least C$20 million. Penfund can commit up to C$225 million per transaction. Penfund does not have any industry preferences and its investments are generally used to support growth needs, recapitalization, shareholder liquidity, acquisitions, and buyouts. Penfund was formed in 1979 and is based in Toronto.

DEAL STATS #
Overall 15 of 28
Sector (Automotive) 4 of 4
Type (Growth Capital) 3 of 5
State (Ontario) 8 of 10
Country (Canada) 11 of 14
Year (2014) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-24 Jet Equipment & Tools

Coquitlam, British Columbia, Canada

Jet Equipment & Tools Ltd. is a distributor of professional grade tools and equipment. Jet Equipment & Tools is based in Coquitlam, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-22 Mister Car Wash

Tucson, Arizona, United States

Mister Car Wash operates car washes and lube centers across the US. Mister Car Wash was founded in 1996 and is headquartered in Tucson, Arizona.

Buy -
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